Ensure You Understand Insurance in Bankruptcy

By Cathy Moran, Esq. (Redwood City, CA)

Because its treatment varies so, we need to be asking more pointed questions of clients about both insurance policies and the debtor as beneficiary.

Unmatured life insurance

Starting with exemptions, §522(d)(7) makes an unmatured life insurance policy exempt without limit.

So, the insurance element of a policy owned by the debtor is exempt whether it insures the life of . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Related Articles

May 5, 2019
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) Section I. Student Loans, Part II – Suggested Regulatory and Judicial Changes In our last installment of the Academy Report on the ABI Commission on Consumer Bankruptcy we dealt with the ABI Commission’s suggested statutory modifications which could address some of the problems facing borrowers confronted with substantial student...
Members
September 15, 2019
By The Honorable William Houston Brown (Retired) Chapter 13 debtor had no authority under § 544. Discussing the split of authority, the Court adopted the majority view that the Code gives § 544 avoidance authority exclusively to the trustee, and the Chapter 13 debtor could not use that power to avoid a mortgage lien. In re Dobbs, _________B.R._________, 2019 WL...
Members
June 9, 2019
By Jan Hamilton, Chapter 13 Trustee (Topeka, KS) Introduction Preliminarily, I recognize that many of those reading this do not need to. There are many fine trial attorneys in the bankruptcy bar. Those folks could well be writing this article. By way of defending myself in advance, this little piece does not consist of a series of war stories or...
Members
tonydiab
June 25, 2023
Litigation Practice Group Lawsuits: 4 Cases to Know (This is the only free article we could find on Litigation Practice Group a/k/a Phoenix Law and disbarred Tony Diab.  He has been disbarred from both Nevada and California.)
Academy Circle Logo Final
April 2, 2023
It is our distinct honor to inform you that Acting U.S. Trustee Paul Randolph has selected Debra L. Miller as the next Standing Chapter 13 Trustee for the Eastern District of Tennessee (Northern and Northeastern Divisions). Ms. Miller has served as a Standing Chapter 13 Trustee in the Northern District of Indiana since 2000. Her wealth of experience will allow...
moran_cathy
August 6, 2023
I was the third attorney on this lien avoidance matter. Instead of it being “third time’s the charm”, it came close to being “three strikes and you’re out.” All because of FRBP 7041. This was the set up: debtor’s original counsel filed a number of lien avoidance actions, including the one against a landlord with a large default judgment. The...
Members
October 6, 2019
With scam artists hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. It threatens taxpayers with a tax bill from a fictional government agency. Here are some details about the property lien scam that will help taxpayers recognize it: This scheme involves a letter threatening an IRS lien...
moran_cathy
August 27, 2023
The bankruptcy means test, designed to keep people out of bankruptcy, has a fatal weakness. . . . it’s health care.
Members
May 10, 2020
By Professor Nancy Rapoport, University of Nevada Dear Readers: Regina Logsdon has just asked me a great question: In this new world of Zoom, is it okay to record meetings? Video and audio? Permission needed? Does it vary state to state? We are living in a new normal, and video conferencing will continue to be part of our lives even...
Members
March 21, 2021
By Cathy Moran, Esq. (Redwood City, CA) No matter how many hoops the client dutifully jumped through, without adequate inquiry and communication, the bankruptcy attorney was slammed for unbundling his services. The representation agreement at issue excluded representation in any adversary proceeding filed, as do most such agreements, I imagine. The client initialed every paragraph of the 19-paged representation agreement,...
Members